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Success Stories

Learn how the platform/services helped members address their business challenges

SourceRFX Global Sourcing & Procurement Platform

Business Challenge

EPC Company in Hyderabad needed to source material for a Transmission Line project that got awarded to them by a State Electricity Board in India. Client wanted to receive competitive quotations from the approved vendors in a short duration.

Approach

• Company floated inquiries (RFQ: Request for Quotations) through SourceRFX Industrial Sourcing Platform.
• SourceRFX already has most of the approved vendors of the various Electricity Boards for common items as members in their Open Business Network.
• Templating and Email capabilities enabled the EPC company to quickly send professional quality invitations to the appropriate vendors seeking quotations.
• Exchanged relevant drawings, specifications and clarifications online along with terms and conditions
• With the help of sourcing specialists from SourceRFX coordinating with the vendors in getting quotations, the EPC company received multiple quotations from the invited vendors.  

Result

• The company received 26 quotations for 6 high value items with total value by highest & lowest quotation values worth INR 14.9 crores and 12.4 crores respectively, which is a saving of close to 17%.
• This was accomplished in a span of a few days which usually used to previously take multiple weeks for the client.
• They’re able to track the progress of the inquiry process for the project. Helped free up their critical resources to focus on other value added tasks.
• It was acknowledged that the quotations received through SourceRFX are priced competitively when compared to similar quotations received over phone or email from the same suppliers in the past.
• What started as a trial effort for the EPC company, decided to train their internal staff and start using SourceRFX platform for future material, service, and project sourcing inquiries in future.
• Started inviting their remaining vendors to join SourceRFX and accepting quotations exclusively through SourceRFX. 

US Address

2352 Haggerty Dr
Dublin, CA
USA, 94568
(+1) 510-648-6623
global@sourcerfx.com 

India Address


Plot# 203, Kavuri Hills
Madhapur, Hyderabad
India, 500081
(+91) 96181 36969
info@sourcerfx.com